Latest news with #NaturalResourcesSummit
Libyan Express
04-05-2025
- Business
- Libyan Express
Libya seeks partnerships for energy sector growth
Libya's Minister for Oil and Gas, Khalifa Abdul-Sadiq, has recently urged major companies to get their applications in and invest safely in Libya's oil sector. In a speech at the Natural Resources Summit over in Istanbul, Abdul-Sadiq called on big oil firms to transfer modern technology to Libya to bump up production rates and replace the oil and gas that's been taken out of the reserves. He also asked them to get cracking on increasing refining capacity with the aim of Libya being self-sufficient in fuels and petroleum products, and to put money into renewable energy to help with electricity generation. This, in turn, would free up more gas to flog off to the global market. During a panel discussion, chaired by the Turkish Minister of Energy and attended by a number of energy and natural resources ministers, the minister discussed investment opportunities in Libya, the goals of his ministry and the National Oil Corporation (NOC) to increase production capacity and expand exploration activity to support reserves, the progress of the public bidding round launched by the NOC at the start of March, and the promotional tours held in Houston and London, the most recent of which was in Istanbul.
Libya Observer
03-05-2025
- Business
- Libya Observer
Oil Minister urges major companies to invest in Libya's oil sector
The Minister of Oil and Gas of the Government of National Unity, Khalifa Abdul-Sadiq, has urged major companies to apply and invest safely in Libya's oil sector. In a speech at the Natural Resources Summit in Istanbul, Abdul-Sadiq called on major oil companies to transfer modern technology to Libya to increase production rates and replace the produced oil and gas from the reserves He also called on them to work on increasing refining capacity with the aim of achieving self-sufficiency in fuels and petroleum products, and to invest in renewable energy to contribute to electricity generation, thus providing greater quantities of gas for export to the global market. During the panel discussion, moderated by the Turkish Minister of Energy and attended by a number of energy and natural resources ministers, the minister discussed investment opportunities in Libya, the goals of the ministry and the National Oil Corporation (NOC) to increase production capacity and expand exploration activity to support reserves, the progress of the public bidding round launched by the NOC in early March, and the promotional tours held in Houston and London, the most recent of which was in Istanbul. Tags: Minister of Oil and Gas
Libya Review
03-05-2025
- Business
- Libya Review
Libya Seeks Return of Turkish Firms to Rebuild Energy Sector
Libya's Acting Minister of Oil and Gas, Khalifa Abdel-Sadiq, has officially called on Turkish oil and energy companies to return to Libya and resume operations, emphasizing that the country's investment climate has improved significantly. He welcomed serious partnerships in oil exploration, production, and energy innovation. The minister's remarks came during a high-level meeting with Turkish Minister of Energy and Natural Resources, Alparslan Bayraktar, on the sidelines of the Natural Resources Summit held in Istanbul. According to a statement from Libya's Ministry of Oil, the discussion focused on expanding bilateral cooperation, particularly in oil exploration, technical support, and joint energy projects that would strengthen strategic ties between Libya and Turkey. Abdel-Sadiq took part in a panel discussion hosted by Bayraktar and attended by several ministers of energy and natural resources. He used the platform to highlight Libya's growing energy opportunities, stressing the ministry's goals—alongside the National Oil Corporation (NOC)—to increase exploration efforts, enhance production capacity, and rebuild hydrocarbon reserves. He invited major international energy companies, especially from Turkey, to invest in Libya's oil and gas industry under secure and favorable conditions. The minister underlined the importance of modern technology and innovation in helping Libya meet its energy targets, including increasing crude oil output, improving refining capacity, and achieving self-sufficiency in fuel production. In addition, Abdel-Sadiq emphasized Libya's interest in renewable energy projects as part of a broader energy diversification strategy. He noted that strengthening the role of clean energy in Libya's domestic power supply would help redirect more natural gas toward export markets, creating additional revenue streams and stabilizing supply to global partners. Tags: EnergygasinvestmentlibyaoilTurkey
